The 2023 Super Bowl was a great game between the Philadelphia Eagles and the Kansas City Chiefs with a half-time show done by none other than Rihanna. Super Bowl LVII had over 113 million people watch it live, making it the third most-watched TV show in history. With such colossal viewer numbers, it is no wonder that the Super Bowl generates a significant economic impact on American society.
First of all, the Super Bowl boosts consumer spending through Super Bowl ads and related merchandise. Super Bowl ads cost upwards of $7 million for just 30 seconds. Companies are willing to pay such a huge amount because it can boost brand awareness by reaching millions of consumers in these ads and influencing purchasing decisions, as consumers are more likely to buy a product if they’ve been exposed to it before. Furthermore, according to the National Retail Federation, Americans spent $17.2 billion on Super Bowl-related merchandise, food, and drinks in 2020. Additionally, the National Restaurant Association claims that Super Bowl Sunday is the second busiest day of the year. This surge in consumer spending has a positive impact on the economy as it supports businesses and generates jobs.
Next, the Super Bowl can create jobs for locals during Super Bowl week as many hotels and transportation companies would need to hire additional staff to accommodate the influx of tourists coming to the city due to the Super Bowl. Statistics back this assumption up. According to a report done by the Arizona State University W.P. Carey School of Business, more than 28,000 jobs were created and the event itself generated $720 million in economic impact for the Phoenix metro area. While the exact impact of the Super Bowl on employment and economic activities varies from year to year and location to location, it is clear that the event has significant economical impacts on job creation.
Last but not least, the Super Bowl has a significant impact on tourism in the local area where the Super Bowl is hosted. Each year, thousands of tourists travel to the host city to attend the game and participate in Super Bowl-related events. This surge in tourism helps local businesses such as hotels, restaurants, and attractions. Not only that, but it also helps the host city, providing long-term exposure that helps to attract visitors in the future.
The 2023 Super Bowl has had a positive impact on the American economy, like many prior. From boosting consumer spending and creating jobs to increasing tourism and generating economic activity, this event provides a significant boost to businesses and the broader economy. It is clear that the event plays an important role in driving economic growth and creating opportunities for workers and businesses alike.
